Not a 'bubble,' but maybe an 'air pocket': Wall Street says it's time to reset the AI narrative

Two of Wall Street’s biggest firms say the AI boom is far from a speculative mania. Instead, BlackRock and Bank of America say this cycle is being driven by real corporate investment, earnings, and productivity gains — not the kind of irrational exuberance that defined the dot-com bubble of the early 2000s. "We don't think the bubble framing is that useful at this stage for investors," Jean Boivin, head of the BlackRock Investment Institute, said at a media roundtable on Tuesday. “We want to avoid just ...